setup of trendline with 10 sma on 5 , 15, 30 min chart during trading.We had 90 pips profit!

setup of trendline with 10 sma on 5 , 15, 30 min chart during trading.We had 90 pips profit!

Trade @ 8.am Nigerian  Time   , which is 10 am Asia Time

The trading setup:

1. Draw a Trend line  from the Highest  and Lowest level  of the Previous trading day to meet the Highest and Lowest  of the currency day before  8.00 am Nigerian Time ( Asia Time is 2 Hours ahead .i.e 10 am )

2. Plot 50 EMA  ,35 EMA, and 10 SMA on the chart

3.

What time frame will you use to make your trade?

4hr

4.

Which strategy will you trade?

trade with the trend and using support resistance

Early morning system

What time frame will you use to make your trade?

4 hr or 1 hour

Which strategy will you trade?

Draw a Trend line  from the Highest  and Lowest level  of the Previous trading day to meet the Highest and Lowest  of the currency day before  8.00 am Nigerian Time ( Asia Time is 2 Hours ahead .i.e 10 am )


2. Plot 50 EMA  ,35 EMA, and 10 SMA on the chart

What is your potential entry setup?

1. buy/sell off of support resistance at or after 8.00 am Nig time
2.  when price is above/below 10 sma at the same time 35 ema crosses 50 ema at or after 8.00 am Nig TIME

What conditions will signal your entry trigger?

when price is above/below 10 sma at the same time 35 ema crosses 50 ema at or after  8.00 am Nig TIME

Where will you place your stop loss?

30 pips

How will you take profit?

when my p/l ratio is above 3-1 ...................  i.e 90 pips

Will you exit before your stop is hit?

not likely

Which signals will cause you to exit early?

when the trend ends and starts to channel

What is your time stop? How long will you hold trades?

anywhere from 1 hour  to 6 hour